Morepen Laboratories Limited has informed the Exchange regarding 'Closure of Credit Facility Kotak Mahindra Bank'.
MOREPENLAB · price
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Awaiting price reaction for this filing.
Morepen Laboratories has fully repaid a Rs. 99 crore credit facility it had taken from Kotak Mahindra Bank. The facility included a Rs. 79 crore working capital demand loan and a Rs. 20 crore cash credit limit. The repayment became effective on March 2, 2026, and the bank is now issuing a No Dues Certificate and releasing the assets that were kept as security. The original facility was taken after the company's December 18, 2024 intimation to the exchange.
This is a positive development for shareholders, as it signals the company had enough cash to clear its debt, reducing interest costs and improving its balance sheet strength. The release of charged assets also gives the company more flexibility for future borrowings.